EURUSD Forecast July 2, 2014, Technical Analysis
The EURUSD pair fell during the session on Tuesday, as the 1.37 level did in fact offer resistance.
The EURUSD pair fell during the session on Tuesday, as the 1.37 level did in fact offer resistance.
Each week and calendar month, quantitative analysis is used to determine certain probable price movements which can be forecasted.
The EURUSD pair fell during the session on Thursday, but you can see found enough support to bounce and form a hammer.
The EURUSD pair broke higher during the session on Wednesday, but could not break out to the upside.
The EURUSD pair rose during the course of the session on Wednesday, but stays within the consolidation area that we’ve seen for some time.
The EURUSD pair fell during the session on Wednesday, breaking below the 1.36 level towards the end of the day.
The EURUSD (FXE, quote) pair fell during most of the session on Tuesday, but found the 1.36 level supportive yet again. Because of this, it appears that the market is ready to grind sideways, as this area although supportive, isn’t necessarily a major support area.
The EURUSD pair fell hard during the session on Thursday, breaking well below the 1.37 level, but part of this would’ve been based upon news headlines coming out of Spain that the European Central Bank might bring its rate down to negative real rates.
The EURUSD pair initially tried to rally, but Wednesday action sell the market fall down to the 1.37 level.
The EUR/USD pair tried to rally during the session on Thursday, mainly predicated upon the fact that the statement from the ECB failed to mention any type of immediate actions to quell the rise of the Euro. The 1.40 level has been rather resistive, and on top of that the European Central Bank has suggested that the 1.40 level is in fact a bit too rich for their liking.